IEX volumes grow 4 per cent in October 2024

Indian Energy Exchange (IEX) achieved electricity traded volume of 9,642 MU in October 2024, marking a 4 per cent year on year increase.

During the month, IEX traded 4.44 lakh renewable energy certificates (REC) recording a 105 per cent year on year increase.

According to government data published in October 2024, the country’s energy consumption reached 140.4 BUs, marginal increase of 1% compared to the previous year. The Market Clearing Price in the Day Ahead Market at Rs 3.92/unit during October 2024, declined 39% year-on-year. Similarly, the Market clearing price in the Real Time Market at Rs 3.77/unit during October 2024, declined 38% year-on-year. These prices present an opportunity for Discoms and Open Access consumers to replace costlier power through purchasing through exchanges.

The Day-Ahead Market (DAM) achieved 4,388 MU volume in October 2024 as compared to 4,742 MU volume in October 2023, a decline of 7 per cent.

On the other hand, the Real-Time Electricity Market (RTM) saw 30 per cent volume growth to 3,123 MU to 2,402 MU in October 2023.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,260 MU during October 2024, as compared to 1,911 MU volume in October 2023, a decline of 34 per cent year-on-year.

 

Green Market

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 872 MU volume during October 2024 as compared to 188 MU in October’23, registering an increase of 364 per cent.

 

REC Market

A total of 4.44 lakh RECs, were traded in the trading sessions held on October 9, 2024 and October 30, 2024, at a clearing price of Rs.110/REC and Rs.120/REC, respectively. The next REC trading sessions on IEX are scheduled on November 13, 2024 and November 27, 2024.

Also read: IEX volume up 24 per cent in September 2024

Note: MU = million units = million kwh = Gwh; 1 REC = 1,000 units = 1,000 kwh